Final answer:
The term describing a buyer's use of personal knowledge from past experiences for future purchases is consumer behavior, which greatly influences their purchase decisions and brand loyalty.
Step-by-step explanation:
The term that refers to a buyer considering their own personal knowledge about a product based on past experiences is consumer behavior. This encompasses the actions that consumers take before, during, and after making purchases, including the information they rely on from past experiences to make future buying decisions. When a buyer evaluates a product or service, they use their previous interactions to inform their satisfaction and expectations. This may involve considering aspects such as customer service, atmosphere, prices, and quality. The personal evaluation plays a significant role in whether a buyer feels they have gotten a "good deal" and impacts their future purchase decisions and brand loyalty.